XME — State Street SPDR S&P Metals & Mining ETF

XME Price Performance — Growth of $10,000

Value of a $10,000 investment in XME over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

XME Drawdown

The "underwater" chart: XME's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR S&P Metals & Mining ETF is a materials sector fund managed by State Street Investment Management with $4.89 billion in assets. It holds an ETFValuer grade of C, reflecting a score of 64.4 out of 100, and ranks second among 15 similar funds in its category. The fund’s expense ratio of 0.35% is notably lower than the category median of 0.52%, while its dividend yield of 0.27% trails the median of 1.34%. Top ten holdings comprise 48.4% of assets, with the largest position held by State Street Global Advisors at 8.3%.

The ETF has delivered a 1-year return of 43.44%, matching the category median, while year-to-date gains stand at 11.70%. Short-term momentum is evident with a 1-month return of 3.64%, contrasting with a slower 3-month pace of 1.22%. The current price of $119.95 sits at 70.1% of its 52-week range, indicating a position closer to the upper end of recent trading levels. The fund’s grade has remained unchanged at C over the last 35 tracked days, and price history is available for 3.0 years.

With a beta of 1.45, the fund exhibits significant sensitivity to market movements, accompanied by a very high annualized volatility of 38.13%. A maximum drawdown of -30.47% highlights the potential for substantial declines during downturns. Despite these risks, the Sharpe ratio of 1.01 suggests that returns have compensated well for the volatility taken. Liquidity is supported by an average daily volume of 2,058,917 shares, though the bid-ask spread of 1.70% indicates moderate trading costs.

AI-generated summary based on the data on this page.

XME Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 48.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how XME's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With XME

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XME's top 10 — NLR overlaps most, holding 2 of the same companies as XME's top 10 (9.4% of XME's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.78% (as of 2026-09-04) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.30 (as of 2026-09-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

XME Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.70% and average daily volume is 2.1M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $4.89B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: XME is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

XME Performance History

How XME Compares to Other Materials ETFs